Gap Inc shares surged as much as 24 percent on Friday as a number of Wall Street...
- Gap Inc shares surged as much as 24 percent on Friday as a number of Wall Street analysts lauded the company’s decision to separate its better-performing Old Navy brand.
“Separating Old Navy to a standalone company is what we have argued for over the past few years. Doing so allows the market to properly value Old Navy for its high margins and strong cash flows,” Jefferies analyst Randal Konik said. FILE PHOTO: A Gap Inc. retail store is shown in La Jolla, California, U.S., May 17, 2017. REUTERS/Mike Blake
The company also said it would close hundreds of underperforming Gap stores in the next two years and would increase investments in its online business as they try to adapt to a more modern retail environment.On a post-earnings call with analysts on Thursday, Chief Executive Officer Art Peck said the company would focus on quality, fit and style of apparel that today’s consumer needs, with special focus on denim to boost the Gap brand.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gap shares surge 25 percent as Wall Street praises splitGap Inc shares surged 25 percent on Friday as a number of Wall Street analysts l...
Read more »
Gap to split itself, restructure Gap brand; stock jumps
Read more »
24-year-old Indiana man confesses to killing girlfriend on Halloween in 2014A 24-year-old man walked into a police station and confessed to killing his girlfriend more than 4 years ago on Halloween, authorities say.
Read more »
An Amtrak train with 183 passengers has been stranded in Oregon for more than 24 hours'We can't get off the train because there's four feet of snow in every direction,' says one passenger.
Read more »
A 24-year-old Honduran woman’s pregnancy ended in a stillbirth at an ICE detention centerThe woman, a migrant from Honduras whose identity the agency withheld, was six months pregnant when she was arrested near Hidalgo, Tex.
Read more »
24 Photos That Show How Wild 90s/2000s Fan Culture Was24 Photos That Show How Ridiculous 90s/2000s Fan Culture Was
Read more »
24 Photos That Show How Outrageous 90s/2000s Fan Culture Was24 Photos That Show How Wild 90s/2000s Fan Culture Was
Read more »